Multigate obtains regulatory approval to facilitate remittances to Kenya

With the approval, the company which specializes in secure digital solutions for financial institutions, solidifies its position as a key player in the global remittance industry following successful licenses in Uganda, Nigeria, and Canada.

CEO Eghosa Nehikhare highlighted the company's commitment to compliance, stating, "In 2022, Multigate announced that the Kenyan Asset Recovery Authority withdrew all cases on our operations and Directors, exonerating the business of all allegations and giving us a clean bill of health."

Over the past year, Multigate focused on regional presence, acquiring licenses such as the Money Remittance Business (MRB) license from the Bank of Uganda, International Money Transfer Operator (IMTO) license from the Central Bank of Nigeria, and Money Services Business (MSB) registration with the Canadian FINTRAC.

Nehikhare emphasized Multigate's commitment to quality, becoming the first Pan-African-based tech company certified as a SWIFT Lite2 Business Application Provider with ISO 20000, 22301, and 27001 certifications.

The World Bank reports remittances as crucial foreign exchange earners, surpassing key exports in countries like Kenya.

 Nehikhare expressed excitement, stating, "We are excited to further contribute to the advancement of Kenya’s economy and enhance East African organizations’ regional and global trade."